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US Chip Giant Unveils India Strategy

The initiatives mark a crucial step forward in Qualcomm’s journey of innovation also strengthening its presence in India. This expansion entails an investment of Rs 177.27 crore…reports Asian Lite News

American semiconductor manufacturer Qualcomm has opened a design centre in Chennai. The centre was inaugurated by Union Minister for Information and Technology Ashwini Vaishnaw on Thursday, in the presence of the company’s President and CEO Cristiano R Amon.

The US-headquartered multinational corporation, Qualcomm, is famed for designing and manufacturing semiconductors and wireless telecommunications products.

“PM Shri @narendramodi Ji’s vision is to develop complete semiconductor ecosystem. Today one more building block – Qualcomm semiconductor design center inaugurated in Chennai. Thankyou Mr. @cristianoamon and special thanks for showing up in Indian traditional attire,” the minister posted on X.

The minister also launched its 6G University Research India Program today, at the Ramanujan IT City, Taramani, Chennai.

These initiatives mark a crucial step forward in Qualcomm’s journey of innovation also strengthening its presence in India. This expansion entails an investment of Rs 177.27 crore.

Talking about the semiconductor production in India, Vaishnaw pointed out that all the three semiconductor chips in the Qualcomm board will be designed now end to end in the newly inaugurated Chennai Design Center and thus meeting the Prime Minister’s vision of creating entire value chain of semi-conductor in India starting from design, fabrication and ATMP (Assembling, Testing, Marking and Packaging) and encompassing further all three layers of semiconductor ecosystem, i.e., talent pool, gases and chemicals and semiconductor equipment.

The Minister also said that the with foundation stone laying for three projects of semiconductor by the Prime Minister on Wednesday, the country will have capability in all fields — design, fabrication and ATMP (Modified Assembly, Testing, Marking, and Packaging).

“We have programmed with 104 universities spread across the nation where the latest design tools are made available to the students, to learn, experiment and try out new ideas,” the Minister noted.

Prime Minister Narendra Modi laid the foundation stones for three new semiconductor plants in the country on Wednesday. In India’s endeavour to ramp up its semiconductor ecosystem, three new chip plants – two in Gujarat and one in Assam are being set up- in addition to the under-construction chip plant at Sanand in Gujarat. Tata Group is setting up two of these three new plants.

Qualcomm joins Jacoti to boost true wireless earbuds experience.

The semiconductor industry in India is still in a nascent stage, with various local and multinational companies intending to tap its vast potential.

The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India was notified on December 21, 2021, with a total outlay of Rs 76,000 crore.

Meanwhile, Centre for Development of Telematics (C-DOT) on Friday announced plans to collaborate with global giant Qualcomm Technologies Inc, a subsidiary of Qualcomm Incorporated, to establish a strategic partnership that will foster innovation in India and support developers and start-ups in the country working on innovative products and use cases.

Qualcomm Technologies has signed an MoU with C-DOT to provide expertise and best practices, state-of-the-art technology, intellectual property training and tools, for enabling Indian startups, academia, and OEMs, and fast-tracking the development and commercialisation of indigenous telecom products utilising Qualcomm wireless solutions and technologies.

Through this collaboration, C-DOT and Qualcomm Technologies will work towards the following broad objectives:

Facilitate access for the startups, OEMs and academia with foundational chip technologies and domain experts that will stimulate innovation and help them scale up their R&D efforts

Accelerate the pace of commercialisation and business development of Indian startups engaged in building indigenous telecom products and solutions

Speaking on the initiative, Neeraj Mittal, Chairman, of the Digital Communications Commission and Secretary of, the Department of Telecommunications (DoT) said that India’s developers, academia and startup ecosystem are at the forefront of driving innovation in the country.

“With immense pride in our nation’s cutting-edge research, we stand alongside Qualcomm in nurturing the entrepreneurial vigour in telecom technology. This initiative is reaffirming the Prime Minister’s commitment to the government’s Design in India and Make in India vision, recognising the potential of homegrown startups to drive groundbreaking innovations and propel India’s leadership in the telecom landscape,” he said.

Rajkumar Upadhyay, CEO, of C-DOT, said “Our collaboration with Qualcomm Technologies will help transition us to an era where innovation thrives, unlocking the vast potential of Indian R&D, accelerating the commercialisation of new products and use cases and fostering a vibrant ecosystem of startups.

Speaking on Qualcomm’s commitment to India, Savi Soin, Senior Vice President, and President of Qualcomm India said that India has a thriving developer and startup ecosystem driven by enormous technology talent.

“The recent initiatives by the government have been key in making India a growth conducive market for tech companies of various scales. With the government’s push for Design in India coupled with growing adoption of 5G and on the device-AI, we see greater scope for innovations,” he said.

ALSO READ: LG Injects $60M into Robot Startup

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Reliance Buys 13.01% of Viacom18

Post the completion of this transaction, Reliance Industries equity stake in Viacom18 will increase to 70.49 per cent …reports Asian Lite News

Reliance Industries has signed an agreement to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited (Viacom18) held by Paramount Global through its two subsidiaries for an aggregate consideration of Rs 4,286 crore.

Viacom18 is a material subsidiary of TV18 Broadcast Limited. Reliance Industries currently holds Compulsorily Convertible Preference Shares of Viacom18 representing 57.48 per cent equity stake (on a fully diluted basis).

Post the completion of this transaction, Reliance Industries equity stake in Viacom18 will increase to 70.49 per cent (on a fully diluted basis). The acquisition is not a related party transaction and none of the company’s promoter/promoter group/group companies have any interest in the acquisition, Reliance Industries said in a filing.

On February 28, Reliance Industries Limited (RIL), Viacom 18 Media Private Limited (Viacom18) and The Walt Disney Company (Disney) announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star India.

As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (SIPL) through a court approved scheme of arrangement. In addition, RIL has agreed to invest at closing Rs 11,500 crore ($ 1.4 billion) into the JV for its growth strategy.

ALSO READ: Retail Inflation Cools in February

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India’s IT Spending Hits $44 Billion

Generative AI (GenAI) will continue to accelerate AI adoption in India with more leading organisations exploring or investing in GenAI use cases…reports Asian Lite News

IT spending in India for 2024 is expected to grow 11 per cent year-on-year (YoY), reaching $44 billion, an International Data Corporation (IDC) report said on Thursday.

As India’s digital economy continues to thrive in 2024 and beyond, IDC expects IT spending in the country to accelerate at a Compound Annual Growth Rate (CAGR) of 9.9 per cent over the coming years to cross the $59 billion mark in 2027, with the software market consistently showing double digit growth across the forecasted years.

Generative AI (GenAI) will continue to accelerate AI adoption in India with more leading organisations exploring or investing in GenAI use cases.

As technology leaders realise AI’s pivotal role in their digital-first strategies, the report forecasts that investments on GenAI by 2027 will be 26 per cent of the overall AI spend in the country or a CAGR of 101.6 per cent.

“India Inc.’s shift to digital continues unabated as enterprises march aggressively towards an ‘AI Everywhere’ future. We can clearly see this in the growth of AI investments from Indian enterprises,” said Vasant Rao, Managing Director, IDC India and South Asia.

In 2023, despite economic headwinds and uncertainty, Indian enterprises continued to invest in digital technology to increase customer engagement and satisfaction, launch new products and services, and improve operational efficiency to drive revenue growth and profitability.

“They allocated their budgets mainly to software, application development and Cloud migrations, a reflection of their judiciousness to make their hardware assets work longer and elongating refresh cycles,” the report noted.

Meanwhile, about 95 per cent of Indian CIOs believe that the adoption of Artificial Intelligence (AI) is key for business in 2024, according to a report on Thursday.

The report by International Data Corporation, commissioned by Lenovo surveyed over 900 CIOs, including more than 150 in India.

It reveals that organisations in Asia-Pacific are planning to increase AI spending by 45 per cent in 2024 compared to 2023.

“CIOs in India are most confident about AI, with 95 per cent expressing certainty that it will create a competitive advantage, and 57 per cent of them consider it to be a game changer for their organisations,” said Amit Luthra, MD -Inid India, Lenovo ISG, in a statement.

“Higher investments in GenAI and machine learning followed by deep learning systems, underscore their desire to elevate operational efficiency, security, decision-making processes, and customer experiences,” he added.

Further, a key trend for Indian CIOs in 2024 includes investments in GenAI (28 per cent). The report showed that AI has significantly influenced top technologies including cybersecurity and threat detection, intelligent automation and robotics, and automation for enhanced efficiency in the country.

However, adoption challenges such as high dependence on third-party support (55 per cent) and security (51 per cent) were found as top concerns for Indian CIOs. Some were also concerned over job security (62 per cent) as well as lack of adequate IT support in automation deployment (64 per cent).

The report also showed that 84 per cent of CIOs in India are already using AI to enhance their security framework with 14 per cent planning to invest.

ALSO READ: ‘India’s Growth Unstoppable’

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India Holds Strong in VC Funding Race

Despite facing headwinds, India’s VC landscape exhibited resilience in 2023, marking a year of continued moderation…reports Asian Lite News

India retained its position as the second-largest destination for venture capital and growth funding within the Asia-Pacific region last year, a report showed on Thursday.

Despite facing headwinds, India’s VC landscape exhibited resilience in 2023, marking a year of continued moderation, according to the report by Bain & Company in collaboration with the Indian Venture and Alternate Capital Association (IVCA).

“In a year seemingly rife with hurdles, investors demonstrated resilience by adjusting to the evolving landscape. There was a perceptible shift in investment focus from tech-first bets to more traditional sectors underpinned by strong fundamentals — such as healthcare, retail, and financial services,” said Sai Deo, Partner, Bain & Company.

Investment activity echoed a muted sentiment globally, with investments declining by 65 per cent relative to 2022 and reaching $9.6 billion in 2023 compared to $25.7 billion in the previous year.

Generative AI gained significant momentum as funding soared from $15 million to $250 million over 2022-23 globally.

Overall, tech-first sectors (consumer tech, fintech, and software/SaaS) maintained their dominance in 2023, capturing nearly 60 per cent of funding.

Investor focus drifted to traditional sectors with strong fundamental tailwinds (banking, financial services, and insurance, healthcare) as well as emergent themes [electric mobility and generative artificial intelligence), the report noted.

Electric mobility was the other green-shoot sector that gained salience (from 3 per cent to 7 per cent of funding), as the rising maturity of the ecosystem fuelled investor interest, the findings showed.

“Over the longer term, global investors will likely remain bullish on India as an investment destination with numerous promising sectors and themes primed to draw investor interest,” said Sriwatsan Krishnan, Partner, Bain & Company.

ALSO READ: Tata Motors Pours Rs 9,000 Cr into TN

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Tata Motors Pours Rs 9,000 Cr into TN

The Tata Motors Group, which rolls out commercial and passenger vehicles, will set up a vehicle manufacturing plant in Tamil Nadu at an outlay of about Rs 9,000 crore, it was announced on Wednesday.

The Tata Motors Group on Wednesday inked a facilitation MoU with the Tamil Nadu government. As per the MoU, the investment of about Rs 9,000 crore will be spread over five years and can create about 5,000 jobs – direct and indirect.

Following the signing of this MoU, teams from Guidance, Tamil Nadu’s nodal agency for investment promotion and facilitation, and Tata Motors Group will work together to take this opportunity forward.

The MoU was signed by V. Vishnu, Managing Director & CEO, Guidance, and P.B. Balaji, Group CFO, Tata Motors, in the presence of Chief Minister M.K. Stalin.

Tamil Nadu Industries Minister T.R.B. Rajaa said on X: “For the FIRST time EVER, TN has attracted TWO BIG Automobile Manufacturing #Investments within a span of just 2 months.”

“Over the past couple of years, Tamil Nadu has hit the fast lane and become the ultimate hub for investments, showcasing our Chief Minister’s dedication to fostering top-tier employment for our vibrant youth and amplifying our industrial prowess,” Rajaa said.

“We’re not just building factories; we’re engineering dreams and accelerating towards a brighter, more prosperous future!” he added.

Last month, Vietnam’s VinFast group’s Indian arm VinFast Auto India Ltd laid the foundation stone for its electric vehicle factory in Tuticorin. The company will invest Rs 4,000 crore in the first phase

Meanwhile, Tata Group companies Air India and Tata Advanced Systems Ltd (TASL) are planning to invest Rs 2,300 crore in Karnataka in projects that are expected to create employment for 1,650 people, the state government announced on Monday.

According to the MoU that has been signed, Air India will set up a facility to carry out maintenance, repairs, and overhaul of planes at the Bengaluru airport. The project entails an investment of around Rs 1,300 crore that will generate employment for 1,200 people.

Tata Advanced Systems, which makes doors for European giant Airbus’s A320neo planes, will set up manufacturing and research & development facilities in the state. The company will invest in three projects near Bengaluru Airport and in Kolar with a total investment of Rs 1,030 crore. These include a passenger to freighter aircraft conversion facility (Rs 420 crore), gun manufacturing facility (Rs 310 crore) and aerospace & defence research and development in Karnataka (Rs 300 crore). These projects are expected to generate direct employment for 450 people.

Karnataka Chief Minister Siddaramaiah and state Large and Medium Industries Minister M B Patil were among those present at the MoU signing ceremony in this regard here.

Saying such projects require streamlined support from the government in terms of clearances, approvals and interventions, Patil assured support in resolving any challenges pertaining to the grounding of the projects.

S. Selvakumar, Principal Secretary, Karnataka Industries Department and Nipun Agrawal, Chief Commercial Officer of Air India and Sukaran Singh, CEO of TASL exchanged the MoU.

Chief Secretary to Karnataka Government, Rajneesh Goyal; Additional Chief Secretary to Chief Minister L.K. Atiq; Commissioner of Industries Department Gunjan Krishna; Air India top officials Manan Chauhan, Karthikeya Bhat, Atul Shukla, TASL top officials Guru Dattatreya, Arjun Maine, Bangalore International Airport Managing Director Hari Marar, COO Satyaki Raghunath, and CFO Bhaskar Ravindra were present on the occasion.

The Tata’s plan for Karnataka comes close on the heels of the group’s announcement of a Rs 15,000 crore investment in Telangana. The Tata Group has also drawn up plans to set up a semiconductor fabrication plant in Gujarat.

Investments flowing into states are on the rise under the Atmanirbhar policy of the Modi government which has increased emphasis on self-reliance under which more collaborations between Indian companies and high-tech foreign firms are taking place. This has also led to more FDI flows into the country.

Tata Sons’ N. Chandrasekaran is Chair of B20 India, to lead biz agenda

Chip Hubs Drive Growth

The new semiconductor manufacturing plants will have a lasting impact on the entire nation and the ecosystem from across the globe will mobilise to have India as their preferred semiconductor destination, N. Chandrasekaran, Chairman of Tata Sons Pvt Ltd, said on Wednesday.

Addressing the ‘India’s Techade: Chips for Viksit Bharat’ programme where Prime Minister Narendra Modi laid the foundation stone of three chip manufacturing units worth Rs 1.25 lakh crore — including two from the Tata Group — Chandrasekaran said that today is a special day, “with the foundation stone being laid simultaneously for our projects in Dholera and Jagiroad 2,500 kms apart”.

“On this historic occasion, I would like to thank PM Modi for his enduring vision to bring the semiconductor industry to the shores of our country,” said the top Tata executive.

The semiconductor industry is innovation-driven as it is a foundation for everything digital.

“We look forward to closely partnering with industry, academic institutions, and ecosystem players to select an infrastructure of tomorrow, right here in India. We will be creating thousands of jobs in this journey and this is just the beginning,” N. Chandrasekaran told the gathering.

Today, every major economy is looking for self sufficiency in the semiconductor supply chain.

“From the very beginning, we have been fortunate to pioneer several businesses. And today, our journey of building semiconductor chips has begun”.

The fabrication facility at the Dholera Special Investment Region (DSIR), Gujarat is being set up by Tata Electronics Private Limited (TEPL). With a total investment of more than Rs 91,000 crore, this will be the first commercial semiconductor fab in the country.

The Outsourced Semiconductor Assembly and Test (OSAT) facility in Morigaon, Assam is being set up by Tata Electronics Private Limited (TEPL), with a total investment of about Rs 27,000 crore.

The third semiconductor facility in Sanand, Gujarat will be set up by CG Power and Industrial Solutions Limited with an investment of about Rs 7,500 crore.

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‘India’s Growth Unstoppable’

Gautam Adani said that while the past three decades were about opening India to the world, the upcoming three decades will see the world opening up to India….reports Asian Lite News

The India growth story is unstoppable, and within the next decade, the country will begin adding a trillion dollars to its GDP every 18 months, setting us on the path to become a $25-30 trillion economy by 2050, said Adani Group Founder and Chairman, Gautam Adani.

Addressing a YPO (Young Presidents’ Organisation) Bombay chapter event this week, Gautam Adani said that while the past three decades were about opening India to the world, the upcoming three decades will see the world opening up to India.

“Keep in mind that following our Independence, it took us 58 years to reach our first trillion dollars of GDP, 12 years to achieve the next, and just 5 years for the third trillion. This acceleration is unstoppable,” Gautam Adani told the packed house.

The digital age has democratised the playing field. It has thrown open opportunities to a far greater number of companies, he said.

“This is the age of exponential growth. The most striking manifestation of this digital revolution is the emergence of new disruptive tech billionaires. An interesting statistic shows that in the 1990s, India had just two billionaires. Today, the number is 167,” Gautam Adani noted.

If the last three decades since the 1990s have laid the foundation for India to become the world’s fifth-largest economy, “the journey towards 2050 will be even more transformative and disruptive”, he said.

“And our journey is just starting – a journey built on one of the most exciting platforms that ever existed – a platform called India,” Gautam Adani said.

He also said that by 2050, he foresees the total market capitalisation of listed companies in India to dramatically increase and range from $40-45 trillion, indicating a 10-fold growth from the current $4 trillion.

“No other nation will be even close to achieving such growth, and India will have its own trillion-dollar valued companies. The trends are already visible, and one sign is seen in the number of billion-dollar valued companies we now have,” emphasised the Adani Group Founder and Chairman.

Today, India is home to over 500 companies valued at over a billion dollars, ranking the fourth in the world, he added.

“In 1991, we had none,” Gautam Adani said.

Young Guns, This Way!

As more and more young Indians aim to become entrepreneurs, Adani Group Founder and Chairman, Gautam Adani, has laid out five mantras for them to succeed in life, hoping that “these will mean something for all of you”.

Speaking at a YPO (Young Presidents’ Organisation) Bombay chapter event this week, Gautam Adani said that all the success will come with its challenges and challengers.

“The greater your success, the bigger will you be as a target, and the true measure of your success will not be in your achievements, but in your ability to rise through the adversities that will come your way along with your achievements,” the Adani Group Founder told the gathering.

Gautam Adani then elaborated with the recent example of the shorting that the Adani Group had to go through.

“As most of you will be aware, last year on January 24, we were subjected to a massive attack by a US short-seller. The objective was not just to destabilise us, but also to politically defame India’s governance practices. But despite the efforts to shake our foundations, we stood firm, not just safeguarding our reputation, but also ensuring that we remained focused on our operations,” emphasised Gautam Adani.

“While there were several learnings, this episode also gave us confidence in our resilience. Our recovery highlights the essence of bouncing back stronger, symbolising the spirit of rising after every fall,” he added.

The second mantra is that “we live in a complex world and it’s easy to be sold on the theory of simplicity”.

“While simplicity may be the goal, it is the ability to manage complexity that will differentiate you and make you the ones that can navigate the deep waters as against those that remain on the shallow shores,” said the Adani Group Founder.

“Every business that I have built has been far more difficult than I had anticipated, and over the years, I have become wiser in my belief that only if I can embrace complexity better than others will I be able to differentiate.”

The third principle is that “the dynamic model of a fast-growing nation like ours requires a flexible approach that is rooted in local models as against models that often emphasise specialisation and core competencies”.

“The crux of strategic differentiation often lies in recognising the limitations of bookish knowledge and Western-centric models. While it is important to source ideas from books and literature, keep in mind that these are after all opinions of brilliant storytellers with a great ability to influence,” Gautam Adani noted.

He further said that resilience often requires the ability to withstand criticism.

“The higher you rise, the more you will need to prepare yourself to handle criticism. But instead of allowing it to deter progress, you must be willing to be misunderstood, and yet stay resilient. Therefore, it is about cultivating an inner strength that allows you to remain strong in your convictions, even in the face of severe opposition,” Gautam Adani elaborated.

Number five and the most difficult of all — stay humble.

“Your success will push back on your humility. But humility is the biggest differentiator you can build. Humility is not thinking less of yourself – it is thinking of yourself a little less. True leadership lies in acknowledging your achievements without letting them overshadow the value of self-awareness,” Gautam Adani told the audience.

ALSO READ: Rubber Prices High in India

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Rubber Prices High in India

During April-January 2022-23, rubber production in the country was 7,25,000 metric tons and it increased to 7,39,000 metric tonnes during 2023-24….reports Asian Lite News

Indian rubber prices have consistently hovered above international market prices for more than the last 10 years while natural rubber production increased by around 2 per cent in the last one year, Rubber Board officials said here on Tuesday.

A senior Rubber Board official said that 11.2 per cent less natural rubber was imported by India this year. He said that India’s rubber production during the current fiscal surpassed the previous year’s production in the April-January period.

During April-January 2022-23, rubber production in the country was 7,25,000 metric tons and it increased to 7,39,000 metric tonnes during 2023-24.

Rubber consumption during April-January 2023-24 increased 5.4 per cent and touched 11,7900 metric tonnes.

The official said that India imported 4,10,770 metric tonnes of rubber from April to January 2023-24, which is 11.2 per cent lower than last year.

Due to unattractive relative prices, India’s rubber exports were negligible for the last few years.

A Rubber Board statement said that after a long stint, Indian sheet rubber prices softened and moved below Bangkok prices during January 2024.

The prevailing supply shortages were due to wintering in Southeast Asian countries and unfavourable weather conditions in the November-December period.

The statement said that to explore the market opportunity, the Executive Director of the Rubber Board M. Vasanthagesan would hold a meeting of rubber exporters and Rubber Board companies at the Board head office in Kottayam (Kerala) on March 15, on hybrid mode.

The meeting will take stock of the current market situation and will explore export opportunities, especially different grades of sheet rubber.

According to the statement, for the export of sheet rubber, the government is extending an incentive of 1.40 per cent of Free On Board value under ‘the Remission of Duties and Taxes on Exported Products Scheme.

The Rubber Board is promoting Indian rubber under the brand ‘Indian Natural Rubber’.

It is a first-of-its-kind initiative by any rubber-producing country to certify the quality of the sheet rubber exported, the statement added.

The seventh edition of India Rubber Meet (IRM 2024) was held in Guwahati last month.

After the two-day meeting, Rubber Board officials said that 70,000 hectares of land, the highest in three years, have been brought under rubber plantation under the Indian Natural Rubber Operations for Assisted Development (INROAD) project in three years in 93 districts in the northeastern states.

The manufacturing industry has committed to invest Rs 1,000 crore towards a new plantation of two lakh hectares and another Rs 100 crore would be spent to improve the quality of Natural Rubber through best practices, skilling, and training.

Of the two lakh hectares of new Natural Rubber plantations under the INROAD project, the target for Assam is one lakh hectares followed by Tripura at 30,000 hectares.

Currently cultivating natural rubber on 97,171.93 hectares of land, Tripura is the second largest Natural Rubber producing state in the country after Kerala annually producing 1,02,989 tonnes of rubber, worth Rs 1620 crore.

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Retail Inflation Cools in February

This marks a marginal decrease from 5.10 per cent recorded in January 2024….reports Asian Lite News

The latest data released by the National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI), indicates a slight easing in retail inflation for the month of February 2024.

According to the provisional figures provided by the NSO, the retail inflation, based on the Consumer Price Index (General), stood at 5.09 per cent in February 2024.

This marks a marginal decrease from 5.10 per cent recorded in January 2024. The combined inflation rate for rural and urban areas came down to 5.09 per cent from the previous month’s 5.10 per cent.

The data further reveals that the Consumer Food Price Index (CFPI) witnessed a similar trend, with a slight decrease from 8.30 per cent in January 2024 to 8.21 per cent in February 2024.

Both rural and urban areas experienced a dip in food inflation, indicating a marginal relief for consumers across the board.

The monthly changes in the General Indices and CFPIs show a negligible increase of 0.16 per cent in the combined CPI (General) and 0.11 per cent in the CFPI from January 2024 to February 2024.

This indicates a relatively stable price movement in essential goods and services during the said period.

The NSO collects price data from a vast sample size, covering both rural and urban markets across all states and union territories.

During February 2024, data was collected from 100 per cent of villages and 98.5 per cent of urban markets. The comprehensive coverage ensures that the inflation figures are representative of the diverse consumption patterns across the country.

In terms of the subgroup analysis, notable trends were observed in various categories. Cereals and products, meat and fish, and egg prices showed moderate increases, contributing to the overall inflation rate.

On the other hand, certain items like oils and fats experienced a decline in prices, exerting downward pressure on inflation.

The NSO has also provided state-wise inflation data, highlighting the varying price dynamics across different regions. States like Andhra Pradesh, Telangana, and Tamil Nadu recorded relatively higher inflation rates, while states like Delhi and Maharashtra witnessed a more subdued inflationary environment.

Looking ahead, the NSO has announced that the next release of CPI data for March 2024 is scheduled for April 12, 2024.

This continued transparency in reporting inflation figures enables policymakers and stakeholders to make informed decisions regarding monetary and fiscal policies. (ANI)

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India PE Investments Maintain Upward Trend

While PE activity recorded the third-highest monthly deals in the past year, it marked the lowest monthly values since August 2020….reports Asian Lite News

Continuing an upward trend in private equity (PE) investments, India Inc saw 154 deals at $2.5 billion in the month of February despite lower values, a new report showed on Tuesday.

The top deal of the month, Mizuho Bank’s investment in Kisetsu Saison India, instilled confidence in the domestic market, contributing to nearly 21 per cent of the mergers and acquisitions (M&A) deal activity, according to Grant Thornton Bharat’s report.

“India’s deal market in February reflected stability amid turbulent global conditions. While M&A activity saw a significant decrease in value, PE investments continued an upward trend, albeit with lower values,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

Looking ahead, despite short-term volatility, strong fundamentals and economic recovery are poised to revive investor confidence in India, Vijetha added.

The Indian M&A space recorded 38 deals at $670 milion in February, reflecting a 7 per cent decrease in volumes. The PE space witnessed 106 deals at $0.8 billion.

While PE activity recorded the third-highest monthly deals in the past year, it marked the lowest monthly values since August 2020.

The biggest deal was Consortium of Investor’s investment of $95 million in Capillary Technologies in the IT and ITeS sector.

Start-ups commanded a significant portion, representing 37 per cent of total deal volumes and 19 per cent of values in February, said the report.

Consumer retail and enterprise application segments within the start-up sector contributed substantially, constituting 40 per cent of sector’s deal volumes.

In the automotive sector, deal volumes reached their second-highest point since July 2023, fuelled by investments in electric vehicles, totalling $69 million out of the total automotive industry deal value of $102 million, the report mentioned.

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Digital Push for Rural India

The collaboration will enable the bundled Prasar Bharati OTT as a service, including linear channels…reports Asian Lite News

In a bid to provide affordable and accessible digital services in rural parts of the country, Universal Service Obligation Fund (USOF) under Department of Telecommunications (DoT) on Tuesday collaborated with Prasar Bharati and Open Network for Digital Commerce (ONDC).

The aim of the MoU is to bundle broadband services with over-the-top (OTT) and the e-commerce platform for rural India, riding on BharatNet infrastructure under the USOF.

In addition, the ONDC, a leading player in digital infrastructure, will provide the technical expertise and necessary framework in enabling digital commerce in products and services.

“This will be expanded to cover more services like education, health, training, credit, insurance and agriculture, among others,” ONDC said in a statement.

USOF has been instrumental in enabling high-speed broadband and mobile connections across gram panchayats (GPs) and villages in the country.

The collaboration will enable the bundled Prasar Bharati OTT as a service, including linear channels, Live TV and on-demand content, among the end consumers, while USOF will ensure efficient and high-speed broadband services in rural and remote areas.

Prasar Bharati will source and produce content that will run on its OTT platform.

“Prime Minister Narendra Modi’s unwavering commitment to foster a conducive environment for digital innovation underpins this truly unique collaboration, synergising connectivity, content and commerce to empower the rural India,” said the ONDC.

Incorporated on December 31, 2021, ONDC is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce to create a facilitative model that revolutionises digital commerce, giving greater thrust to penetration of retail e-commerce in the country.

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